Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Positive – – – Gold and Silver prices are seeing rebound and cleared their recent highs. Next resistance for gold is $1820 and for Silver $24
Long-term View (3-4months) Positive – – Gold has made Inverse Head and Shoulder pattern on daily charts. Neckline resistance is $1820. If prices sustain above it, target would be $2020.
SPOT Gold Daily Price Chart
Important News and Triggers International News –– Gold price is attempting a tepid comeback following a massive sell-off witnessed on the back of the hawkish policy outlook adopted by the US Federal Reserve (FED) and the European Central Bank (ECB) at their respective monetary policy meetings. Both central banks remain committed to keeping interest rates higher until inflation is brought down in a sustained manner Economic Data – – As the Fed remains data-dependent, attention now turns toward the US PCE Price Index, the Fed’s preferred inflation, due next week for fresh hints on the US central banks’ future policy course
SPOT Silver Daily Price Chart